Keybank National Association OH Decreases Stake in Target Corporation (NYSE:TGT)

Keybank National Association OH reduced its position in Target Corporation (NYSE:TGT) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 182,322 shares of the retailer’s stock after selling 4,467 shares during the period. Keybank National Association OH’s holdings in Target were worth $19,027,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Nicholas Company Inc. lifted its stake in shares of Target by 20.5% during the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares in the last quarter. DSG Capital Advisors LLC lifted its position in shares of Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after acquiring an additional 21,726 shares in the last quarter. River Road Asset Management LLC boosted its holdings in shares of Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after acquiring an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Target in the fourth quarter worth $6,459,000. Finally, Sierra Summit Advisors LLC grew its position in shares of Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after purchasing an additional 3,231 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Evercore ISI reduced their price objective on shares of Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. UBS Group reduced their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Barclays started coverage on shares of Target in a report on Thursday, May 22nd. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.70.

Target Trading Up 1.5%

NYSE TGT opened at $105.37 on Thursday. The firm has a market cap of $47.88 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.97 and a beta of 1.22. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The stock has a 50-day moving average of $96.72 and a 200-day moving average of $112.14. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.25%. Target’s payout ratio is currently 49.23%.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.